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Goldstar Minerals Inc. Announces Rights Offering

MONTRÉAL, QUÉBEC--(Marketwired - June 8, 2017) - Goldstar Minerals Inc. (TSX VENTURE:GDM) (the "Company") announces that it will be offering rights (the "Rights") to holders of its common shares (the "Common Shares") of record as at 5:00 p.m. (Montréal time) on June 16, 2017 (the "Record Date"), on the basis of two (2) Rights for every three (3) Common Shares held (the "Offering"). Each Right will entitle the holder thereof to subscribe for one Common Share upon payment of the subscription price of $0.03 per Common Share. The Offering will be conducted in Canada only.

The Rights will trade on the TSX Venture Exchange under the symbol "GDM.RT" commencing on June 14, 2017 until noon (Montréal time) on July 17, 2017, and the Rights will expire at 5:00 p.m. (Montréal time) on July 17, 2017 (the "Expiry Time"). Rights not exercised prior to the Expiry Time will be void and of no value. Holders who fully exercise their Rights will be entitled to subscribe for additional Common Shares, if available, that were not subscribed for by other holders of Rights prior to the Expiry Time.

Complete details of the Offering will be set out in the rights offering circular and the rights offering notice which will be available under the Company's profile at www.sedar.com. The rights offering notice and accompanying rights certificate will be mailed to each registered shareholder resident in Canada as at the Record Date. Registered shareholders who wish to exercise their Rights must complete and forward the Rights Certificate, together with applicable funds, to TSX Trust Company, the Rights Agent for the Offering, on or before the Expiry Time. Shareholders who own their Common Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary. The Company will not issue or forward rights certificate to shareholders resident in a jurisdiction outside of Canada (the "Ineligible Holders"). The rights certificate of Ineligible Holders will be issued to and held on their behalf by TSX Trust Company who will, prior to the Expiry Time, attempt to sell the Rights of Ineligible Holders on such dates and at such prices as it determines in its sole discretion.

No party has been retained to solicit subscriptions for Common Shares pursuant to the Offering. However, the Company will pay to members of the Investment Industry Regulatory Organization of Canada (IIROC) who procure subscriptions for the Common Shares upon the exercise of Rights a fee of 5% of the subscription price of the Common Shares subscribed through them, other than subscriptions by insiders of the Company.

There are currently 48,784,194 Common Shares issued and outstanding. If all of the Rights issued under the Offering are validly exercised, the Offering will raise gross proceeds of approximately $975,684. The Company intends to use the net proceeds of the Offering for trenching and sampling at its Lake George Property located in New Brunswick as well as carrying out a geophysical airborne survey over a portion of its Assinica Property located in Québec and to replenish its working capital.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements.